Secured Claim
/ˈsɪkjʊərd kleɪm/
Definitions
- (n.) A claim backed by collateral or a security interest, giving the claimant priority in bankruptcy or lien enforcement.
The lender filed a secured claim against the debtor's property.
Forms
- secured claim
- secured claims
Related terms
See also
Commentary
Typically used in bankruptcy law to distinguish claims supported by collateral from unsecured claims; precise identification of collateral is crucial in documentation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.